What's Being Discussed

Staff updates: The Executive Director and Deputy Executive Director will report on investments, policy, legislation, member services, accounting, and technology systems.
Compliance report: The Compliance Office will share updates on ongoing projects, goals, and achievements.
Audit and financial review: The board will review an internal audit report from KMH LLP covering September–October 2026, as well as draft financial statements prepared by KKDLY LLC.
Governance and modernization: A quarterly update on enterprise risk management and a modernization project will be presented.
Closed-door sessions: The board will meet privately to discuss investment strategy, cybersecurity and information security risks, and a personnel matter involving the Deputy Executive Director.

Decisions Expected

Election of Board of Trustees officers for 2027 and assignment of committee roles.
Approval of the 2027 meeting schedule for the board.
Possible approval of strategic asset allocation targets — how the retirement fund's money is distributed across different types of investments.

Who Should Pay Attention

State and county employees and retirees who are members of Hawaii's Employees' Retirement System (ERS) — this board manages their pension fund.
Anyone interested in how public pension funds are invested and governed.
Members of the public who wish to comment — written testimony is due by 4:30 p.m. on Friday, November 6, 2026, sent to dale.kanae@hawaii.gov.